Tuesday, January 24, 2006

Osama ruined my condo value?

I've been thinking lately about whether I should buy a condo (since I can't afford a house within 40 miles of DC). All this talk about the DC housing bubble showing initial signs of popping, or at least losing some air has scared me. As it is, it looks like my humble Federal salary will buy me a crappy one bedroom in a crappy condo building. As much as I'd love to live in Penn Quarter or Georgetown or even Clarendon, I think I'm stuck with the more "economically diverse" neighborhoods. I'm looking seriously at the River Place due mainly to its location, even though its a 50 year old building with small square footage (If anyone has any experience with this building, I'd love to hear about it). But then I got to thinking... DC is possibly terrorists' number one target. If they blew up a bomb on the Metro or in DC or pretty much anywhere around here, would that destroy the housing market? Would there be a mass exodus for the relative safety of Loudoun County? Or Bermuda? I'm deathly afraid that I'll take one of these risky ARM or interest only loans, the value will plummet (and I see this as the only thing that's really going to make the market collapse in a flash), and I'll be financially done for (like Eagle Eye Cherry's once glittering career; if only Eagle Eye had saved more than tonight, we would be blessed with more toe-tapping hits). Does anyone else have a take on this real estate terrorism fear, or am I just having first time buyers jitters?

21 Comments:

At 10:10 AM, Blogger always write said...

I was wedded to the idea of living in one of the "hot" neighborhoods but wound up buying in the Glover Park/Wesley Heights area, which is not quite as Metro-accessible but still convenient (even more so than other neighborhoods if you have a car) and certainly more affordable. I work for a non-profit, so money is an issue for me as well. There's ample street parking where I live, plenty of bus transportation and lots of trees. It's a nice compromise.

 
At 11:34 AM, Blogger The Virginian said...

I've thought about whether its worth it to live somewhere not metro accessible, but I work in Crystal City where driving will cost me an extra 150 bucks a month for parking. And I still fear the housing values collapsing for some reason, especially if I have to take a risky mortgage out.

 
At 12:25 PM, Blogger Capt. Jack Sparrow said...

I don't think people would drop D.C. like a hot potato and the real estate values would plummet if the D.C. area got attacked again. We're not as hardy as New Yorkers, but we Washingtonians know how to hold our ground. It just means ya start carrying a back-pack with emergency supplies and running shoes....

 
At 12:33 AM, Blogger Scarlett said...

The River Place isn't all that bad...older building, but it's a great location. The university I went to is a part of a group of colleges who own several apartments on the top floor of one of the buildings. I spent 3 months in one of the corner apartments 2 summers ago. It was a great summer and I'd live there again. Loved the area.

 
At 12:33 AM, Blogger Scarlett said...

This comment has been removed by a blog administrator.

 
At 11:34 PM, Blogger Real Estate Expert said...

In the year prior to Hurricane Wilma, which ripped through south Florida in October, 2005, 64 homes had new owners at the Boca Country Club. If you're interested in Windwood property, a snapshot of the present may show the Housing Bubble has already popped. Read more ...

 
At 1:40 PM, Blogger Real Estate Expert said...

Despite the fact that the housing bubble has popped in Florida, prices may not plummet in hurricanne-ravaged Palm Beach. Why? Because it costs a lot more to build a house than it used to. If you're interested in windwood condo, Read more ....

 
At 12:08 PM, Blogger Boca Expert said...

Real estate experts watch "absorption rates" closely. It's a time-tested yardstick for selling existing homes in established subdivisions. Does it prove that the Housing Bubble has already popped? Read more ....

 
At 10:52 PM, Blogger real estate expert said...

I don�t really have a useful comment on your site, but it was a nice break from my own real estate work. I just wanted you to know I enjoyed the visit and hope you can visit my site if you have a chance.

 
At 11:46 PM, Blogger real estate expert said...

I try to swap links with people in the real estate business. But most folks don�t seem to care too much for that. Still, while blogging, I enjoyed visiting your site. Interesting work. Visit my site if you have a chance.

 
At 10:14 AM, Blogger fast weight loss diet said...

We are the best of the best in condominiums and we have the best service. Also we have the best view toward the sea, be one of the fortunate in enjoying our installations.
Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica ,
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.ramadajaco.com/

 
At 1:20 PM, Blogger Kely said...

Hello I want to congratulate to you. This site is fantastic, looks like entertained and very good to me it elaborated. I invite them to that they explore a little on my site of the Web
Our real estate listing includes great opportunities on Costa Rica Central Valley’s provinces such as San Jose, our Capital, with remarkable cities as Escazu at the west, or Curridabat at the east, experiencing a great development on both commercial and residential properties, making their real estate pricing highly attractive to investors; on other hand, Alajuela city gathers places with a very special warm weather such as Grecia, La Garita and Atenas, or beautiful farms for agricultural, cattle or nature preservation purposes as those located on San Carlos or Sarapiqui. We also offer land properties in Guanacaste, which is the province, along with Puntarenas, with the most beautiful tropical beaches on the Pacific Coast such as Tamarindo, Playa Grande, El Coco, Playa Hermosa, Nosara, Samara, Herradura, Jaco, Manuel Antonio, Dominical and Golfito, where the real estate business occupies the first place as the local economic activity.
Great investment opportunity at Costa Rica Pacific Coast, Preconstruction condos in costa rica
Condo sales in costa rica, Retirement property in costa rica. Visit us for more info at: http://www.costa-ricarealestate.com/

 
At 4:01 PM, Blogger Omar Cruz said...

this report is fantastic, the infomation you show us is really interesting and is good written. Do you want to see something more? Look: this is a good page, you can visit too:Great Costa Rica Pacific Coast investment opportunity, guanacaste beach condos, jaco beach condos, Real Estate properties in Jaco beach Costa Rica, jaco beach real estate, beach condos rentals costa rica, condo for sale in costa rica. Visit us for more info at: http://www.costa-ricarealestate.com

 
At 7:52 PM, Blogger costa rica said...

this report is fantastic, the infomation you show us is really interesting and very important. Do you want to see something more? you can visit too:

Great investment opportunity in Costa Rica: jaco beach real estate, map jaco beach, hotel in jaco beach costa rica. Visit us for more info at: http://www.jaco-bay.com/

 
At 6:10 PM, Blogger DENNIS07 said...

Great investment opportunity in Costa Rica: costa rica real estate, real estate beach,costa rica condos. Visit us for more info at: http://www.jaco-bay.com/

 
At 2:11 PM, Blogger Omar Cruz said...

These articles are fantastic; the information you show us is interesting for everybody and is really good written. It’s just great!! Do you want to know something more? Read it...:Great investment opportunity in Costa Rica: costa rica retirement property, costa rica retirement information, costa rica hoteles. Visit us for more info at: http://www.costarica4retirement.com

 
At 5:31 PM, Blogger crre said...

A lot of people ask me how I like living in Costa Rica. My answer is, it was the best decision that I made in my life. I came to Costa Rica 7 years ago on a vacation and quickly fell in love with the beauty of the country and the hospitality of the people here. I couldn't wait to come back. I started coming here about 4 times per year and always had a great time and didn't want to leave. Two years ago, I decided to leave Arizona and come live in Paradise. I can not tell you how happy I am that I made that decision. Today, I wake up next to the ocean and run on the beach every morning. I eat the most delicious fruits, vegetables and fresh seafood. My stress levels are much lower than when I was living in the States and the potential here for investing, truly is unlimited. The best part of living here is showing our clients this country. I really don't feel like I have a job for the first time in my life. The joy I receive when I see the look on people's faces when they get into the warm water of the Pacific ocean is truly priceless. For those of you that have come and discovered paradise, you know what I am talking about. For those of you that are on the way, I can't wait to get you here. And to those who are thinking about Costa Rica, please do yourself a favor and come down. You will have the time of your life.


We invite you to take a tour on our website, and if should more information is required:



Great condo for sale in costa rica
Costa Rica Real Estate Articles and News, Costa Rica Beachfront Property. Visit us for more info at: http://www.costa-ricarealestate.com/

 
At 7:31 PM, Blogger Hazel said...

Congratulations! this information it is very interesting, I invite you to visit my site about Costa Rica Real Estate and Retirement in Costa Rica and you will find both. Prices will amaze you have a great investment opportunity to invest in Costa Rica Pacific Coast.
Visit us for more info at: http://www.Costa-RicaRealEstate.com

 
At 5:03 PM, Blogger samuelzamor said...

me a crappy one bedroom in a crappy condo building.sportsbook As much as I'd love to live in Penn Quarter or Georgetown or even Clarendon, I think I'm stuck with the more.http://www.enterbet.com

 
At 5:03 PM, Blogger samuelzamor said...

me a crappy one bedroom in a crappy condo building.sportsbook As much as I'd love to live in Penn Quarter or Georgetown or even Clarendon, I think I'm stuck with the more.http://www.enterbet.com

 
At 5:03 PM, Blogger samuelzamor said...

me a crappy one bedroom in a crappy condo building.sportsbook As much as I'd love to live in Penn Quarter or Georgetown or even Clarendon, I think I'm stuck with the more.http://www.enterbet.com

 

Post a Comment

<< Home